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Toyota reports ¥70bn FX impact

FX Week staff

09 Aug 2004

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"We recognise the uncertainties we’re facing in both the foreign exchange and interest rate environment," said vice-president Ryuji Araki, when announcing the company’s results to June 30. "In responding to these challenges, Toyota will continue its efforts and work hard to maintain the profit levels of the fiscal year ended March 2004."

But the yen’s strengthening trend over the past couple of years could add to more FX headaches for the company, which is seeing growing international sales: